KATHMANDU, Oct 11: Global IME Bank is set to obtain a $25 million loan from the Climate Fund to further its investment in clean energy initiatives. This substantial loan will help enhance the bank's lending capacity and foster its support for energy efficiency projects as well as renewable energy ventures.
The Global Climate Partnership Fund (GCPF) in Luxembourg is extending this loan to Global IME Bank. The two parties have successfully inked the agreement, solidifying this financial transaction.
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This marks the first loan provided by GCPF to Global IME Bank in Nepal, with the aim of bolstering climate change management. The bank holds that this financial support will play a crucial role in preserving the environment.
Ratna Raj Bajracharya, the CEO of Global IME Bank, expressed his satisfaction in collaborating with GCPF, an organization dedicated to addressing climate change and sustainable development across 27 developing and emerging nations worldwide. The loan is expected to increase the bank's capacity for credit investment and stimulate greater involvement in the energy sector.
Both Global IME Bank and the Climate Fund believe that this fund will have a substantial impact on Nepal by reducing the effects of climate change, enhancing energy sector efficiency and effectiveness, and offering financial resources for renewable energy initiatives.
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